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In preparation for regulation, Binance hires the head of Kraken’s compliance department

In preparation for regulation, Binance hires the head of Kraken’s compliance department #preparation #regulation #Binance #hires #Krakens #compliance #department Welcome to Americanah Blog, here is the new story we have for you today:

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The former chief compliance officer from rival Kraken has been hired by Binance, the largest cryptocurrency exchange by volume of spot trades, as the company ramps up its compliance initiatives.

Christie is in charge of Binance’s more than 750-person global compliance team, which includes its cyber investigations team, the spokesperson said. According to a biography from a 2019 blockchain event in which he participated, Christie has been working in the cryptocurrency industry since 2015. Prior to that, he was the compliance chief at bitcoin custodian Xapo Financial Bank.

According to a 22 September statement from a Binance spokeswoman, Steven Christie, who oversaw global compliance at Kraken for more than four years, joined the company in May as senior vice chairman of compliance.

Kraken, a San Francisco-based company, announced on September 21 that it planned to hire a new chief compliance officer soon. The company also announced that co-founder Jesse Powell would continue to serve as chairman while resigning from his post as chief executive.

The most recent change for Kraken is the administration because of the company’s increased regulatory attention. According to a New York Times report from July, the industry is the subject of a federal investigation because it is allegedly allowing consumers in Iran and other countries to buy and sell digital tokens, in violation of US sanctions.

Kraken referred to Dave Ripley, the company’s current chief operating officer, will succeed Powell after the search for a new COO has been concluded. According to the website CoinMarketCap, which tracks the price of digital assets, Kraken is the fourth-largest cryptocurrency exchange by volume of spot trading.

An inquiry for comment was not immediately answered by Kraken’s representatives.

Despite falling crypto prices and job losses, the demand for compliance and legal knowledge inside the industry has persisted recently because of the increased regulatory pressure the industry is under.

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